Consumer groups seek extension of comment deadline for CFPB proposed debt collection rules

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Seven consumer advocacy groups have submitted a letter to Director Kraninger requesting a two-month extension of the August 19 comment deadline for the CFPB’s proposed debt collection rules.

The groups state in their letter that “there are very few organizations that represent the interests of people subject to debt collection that have the expertise and capacity to analyze the complex proposal and to respond with detailed analyses in light of the current state of the law and practice and of the impacts of the proposed changes on consumers.”  Among the reasons given for their extension request are their “limited resources,” the strain on their resources due to the need for the groups to analyze and respond to other Bureau activities during the time period the proposal has been pending, and that “the time period for developing and submitting comments also falls over the summer when many people will be on long-planned family vacations.”

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